Welcome to the Windsor, CT Real Estate Market Update
presented by The Master's Key Realty for the
Month of March 2011.
RESIDENTIAL SINGLE FAMILY HOMES
Currently there are 132 actively listed Residential Homes in Windsor, CT. Of these, 36 were listed during the month of March.
These homes range in price from $85,000 to $1,125,000. They have been on the market from 1 day to 743 days.
SALES ACTIVITY:
There are 23 homes currently under deposit in Windsor CT - nine of these went under contract during the month of March. In comparison, in 2010, 37 homes went under contract in the month of March. This reflects that sales activity for the month of March was off by about 75%. Hopefully this is just a result of our late entry into the "spring market" due to record snowfalls in January. If so, we should see a healthy rebound in April.
In addition, 14 properties were sold (closed sales) in Windsor during the month of March 2011, ranging from $105,000 to $326,900. Closed sales were on the market before going under deposit an average of 87 days on the market. In comparison, in 2010, there were 18 closed sales in the month of March, so closed sales are off about 20%.
With 9 homes selling in one month, and 132 homes on the market, the absorption rate is 15-16. This means that it would take 15 to 16 months to absorb the current inventory of homes now on the market. If you are thinking about selling your home in Windsor, CT, this should help you determine the most suitable pricing on your house for sale to meet your desired selling time.
CONDOMINIUMS
Currently there are 32 actively listed Condominiums in Windsor, CT. Of these, eight were listed during the month of March 2011. These condos range from in price from $23,900 to $359,900.
SALES ACTIVITY:
There was only one new deposit on a condominiums taken in Windsor CT in March 2011, and no other condominiums under deposit from previous months. The single condo sold in March 2011 was a Chateaul Woods condo listed for $49,900. In comparison, in March of 2010, there were four deposits taken on condominium listings.
There were four condos sold in Windsor CT in the month of March 2011 ranging from $175000 to $226,000. The average days on market for closed condominium sales was 261.
With an average of less than 2 condominiums selling in one month, and 43 condos on the market, the absorption rate is more than 21. This means that it would take more than 21 months to absorb the current inventory of homes now on the market. If you are thinking about selling your condominium home in Windsor, CT, this should help you determine the most suitable pricing on your condo for sale to meet your desired selling time.
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If you are thinking about buying or selling a home in Windsor CT or anywhere in Hartford County, please call me for a personal consultation. I would be more than happy to discuss marketing and pricing strategies, and how absorption rates affect your pricing, or to answer any other questions you may have about real estate.
If you know somebody who is having difficulty in the current economy and struggling with their mortgage payment and doesn't know what to do, I may be able to help them, especially if they are facing foreclosure! Please suggest they give me a call. All referrals will be handled professionally and confidentially, just as you would expect!
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